Rackspace Soars on Palantir Deal: Will the Hail Mary Save the Stock?

In what could be described as a "Hail Mary" for a company currently treading water at penny-stock levels, Rackspace Technology, Inc. (NASDAQ:RXT) announced a strategic partnership Wednesday with data-giant Palantir Technologies, Inc. (NASDAQ:PLTR) . RXT stock is soaring. See the chart and price action here. The move, designed to accelerate the deployment of Palantir's Foundry and Artificial Intelligence Platform (AIP), sent Rackspace shares into a triple-digit rally. But beneath the AI-powered press release ...